For quite a while now, short term rentals are making a splash in the residential scene. However, it still is just a part of a bigger housing market. As this rising trend of medium let renting is becoming an unstoppable force, leasing a long-stay serviced apartments continues to be an immovable object in the area. The concept of long term rentals is as every bit as complex as short term rentals. So what really is a long term rental apartment?
While a short term let can be booked from the normal range couple of days to a few months, a long term rental apartment is usually booked for more than 6 months. This gives the tenant the comfort of consistency and security by leasing a space, aided by the laws involved in the process. There are spaces that are unfurnished to give way to the tenants’ belongings. However, there are a lot of long stay apartments that are as well-serviced and furnished as short term homes.
Landlords are also legally responsible to give renters a notice if the lease expires and they opt not to renew said people. The long term housing market has been around longer than short term renting, thus people are more familiar with the idea more than the concept of short term lets.
With a bigger scope of options, long term rentals attracts more consumers because most residential situations are answered by longer and more stable leases. Long term rentals are mostly picked up by various people, like students attending a nearby university for quicker access to the campus. They are also the go-to options for a professional that is assigned to the city for a long term contract. They are also predominantly chosen by couples or families looking to grow roots in the particular area for a much needed security.
For landlords, this is a more reliable source of income than a short term rental. With the usual setup where they do not need as much marketing, renting out a long term let is less time consuming for maintenance and cleaning as the tenants are responsible for their spaces. Utility costs are also forwarded and paid for by the tenants directly, which is the opposite case in the short term renting. But renting out a serviced apartment, like the one pictured above, will be much more like having a vacation home for a longer time. It has free Wifi with all bills and cleaning included.
All in all, a long term apartment is a perfect fit for those trying to build a life in a particular town or city like London. It provides you a home with secured longevity and the advantage of a much needed privacy in your personal life. If you think leasing a long-stay serviced apartment is better for you, then find a local listing now and rent the home of your dreams!